Monitor and investigate suspicious transactions, analyze fraud patterns, conduct in-depth investigations, collaborate with law enforcement and internal teams, develop prevention strategies, prepare regulatory and management reports, and support customers affected by fraud.
Responsibilities:
Fraud Detection and Analysis
- Monitoring accounts and transactions for suspicious activity using various tools and systems.
- Analysing fraud alerts and reports to identify potential fraud patterns and trends.
- Investigating fraud cases, gathering evidence and documenting findings by collaborating with outsourced service provider if necessary.
Investigation and Resolution
- Conducting in-depth investigations of suspected fraudulent activities and escalate cases accordingly.
- Interviewing customers, employees, and other relevant parties.
- Collaborating with law enforcement agencies and other internal teams (e.g., legal, compliance, ITD). Participate in Fidrec adjudication, when necessary.
Fraud Prevention
- Developing and implementing fraud prevention strategies and controls.
- Educating customers, staff, and the public on fraud risks and prevention techniques.
- Recommending improvements to existing rules in fraud detection system and procedures/processes for operational efficiency and effectiveness.
Reporting and Compliance
- Preparing management reports and regulatory reports.
- Be conversant with relevant laws, regulations, and Bank policies.
- Staying updated on the latest fraud trends and regulatory changes.
Customer Support
- Providing support and guidance to customers who have been victims of fraud.
- Assisting with account recovery and providing advice on fraud prevention.
Collaboration and Communication
- Collaborating with internal stakeholders within the Bank and externally with Regulators/SPF/Anti-Scam Centre/peer banks and fraud risk industry counterparts to share information and coordinate efforts.
- Communicating effectively with customers, both verbally and in writing.
Requirements:
Qualifications
- Degree
Professional Qualification and/or Regulatory, Licensing Requirements
- Technical and Regulatory Knowledge, relating to Fraud and Scams
Relevant Work Experience
- At least 5-10 years of relevant investigative experience in fraud risk and scam related areas is preferred
- Strong relationships with Law Enforcement Agencies will be a plus point
Technical/Functional Skills
- Familiar with relevant Regulatory Acts/Notices/Advisories
- Strong analytical skill and eye for detail
- Good communication and interpersonal skills
- Independent, versatile and able to perform under pressure
- Knowledge of Consumer Banking business practices, processes and procedures
- Proficient in MS Word, Excel, PowerPoint & Fraud systems
- Analytical skills in data interpretation
- Investigation skill & reports preparation
- Visa/MasterCard Rules and Regulations including chargeback process
- Complaint Management matters on fraud and authorizations areas
- Proven track record of managing complex investigations with excellent analytical, problem-solving & risk mitigation
- Strong understanding of changing fraud and scams typologies in the financial industry for Consumer Banking
Personal Skills (Soft Competencies)
- Good communication skills, written and spoken with the ability to communicate at all levels
- Planning and organizing
CIMB Singapore Singapore Office
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